The National Futures Association announced that it will review and approve initial margin models for uncleared swaps by swap dealers. Under recently adopted rules of the Commodity Futures Trading Commission related to uncleared swaps, relevant SDs may use a standardized methodology to calculate margin requirements or use an internal model approved by the CFTC or NFA. NFA will issue further details regarding its submittal process. (Click here for details regarding the CFTC’s uncleared swaps margin requirements in the article, “Swap Dealers Given Initial Margin Requirement Break for Intra-Affiliate Transactions Under CFTC Final Margin Rule” in the December 20, 2015 edition of Bridging the Week.)